In order to maintain a flow of innovative medicines there is a growing realisation that companies cannot allow the status quo to remain as it is and the need to identify sources of appropriate knowledge and expertise outside of their own organisations is paramount. This article discusses some of the challenges in arranging collaborative arrangements with each other and academia.
The discovery and development of a new medicine is time-consuming, risky and expensive. It often takes 10-15 years and an investment of on average >$1 billion for a compound to navigate its way along the drug discovery and development process – and only 8% of drug candidates entering clinical development make it to market and benefiting the patient2.
The drug development industry is restructuring worldwide. This brings different ways of working and new challenges. As the industry moves away from internally focused research to an external model, project management and communication of science will often be more critical than outstanding science. There is a real danger the key skills will be lost across the world not least in the translation of potential drugs into early clinical trials.